Mesabah

The 787 is a big pile of poo, plus it's not big enough.

forgot to bid

CHICAGO (WBBM/CBS) – A combination of strong thunderstorms, followed by violent and destructive winds, will make for one of the most dangerous storms in 70 years.

The temperature Monday is expected to climb to 77 degrees under partly sunny skies. But when Tuesday morning comes around, the Chicago area will be slammed with furious thunderstorms as a cold front passes over the area.

nwaf16dude

So, you're saying it should be a bigger pile of poo?

FedElta

Hey T, & Jughead,

Seems like I've hit a touchy subject with the A's on the board. I remember the safety guy who briefed my indoc class. He told us that 90% of DAL taxiway and runway incursions happened when the f/o was " heads down."

I'll never be a captain at DAL, but I tend to remember statistics like those. I should have qualified my post with IMHO.

Just sayin"

Check Essential

Here is a wealth of information about Delta's current situation --

The 787 discussion is on page 13.
The fleet snapshot is on pages 29 and 30.

Form 10Q. Just filed today:

EDGAR Filing Documents for 0000950123-10-095598
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acl65pilot

Lets be more specific. The 787-800 is a pile of poo. The 787-900 will be the airplane we want.

Check, you beat me to it. It was part of the 10K.

Don't all things happen in threes?

forgot to bid

acl65pilot

OK you lazy pilots. I left out the numbers and most of the cost related items, but here are most of the foot notes you may like.
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We may terminate the Chautauqua and Shuttle America contract carrier agreements without cause at any time after May 2010 and January 2016, respectively, by providing certain advance notice. If we terminate either the Chautauqua or Shuttle America agreements without cause, Chautauqua or Shuttle America, respectively, has the right to (1) assign to us leased aircraft that the airline operates for us, provided we are able to continue the leases on the same terms the airline had prior to the assignment and (2) require us to purchase or lease any of the aircraft that the airline owns and operates for us at the time of the termination. If we are required to purchase aircraft owned by Chautauqua or Shuttle America, the purchase price would be equal to the amount necessary to (1) reimburse Chautauqua or Shuttle America for the equity it provided to purchase the aircraft and (2) repay in full any debt outstanding at such time that is not being assumed in connection with such purchase. If we are required to lease aircraft owned by Chautauqua or Shuttle America, the lease would have (1) a rate equal to the debt payments of Chautauqua or Shuttle America for the debt financing of the aircraft calculated as if 90% of the aircraft was debt financed by Chautauqua or Shuttle America and (2) other specified terms and conditions.
We estimate that the total fair values, determined as of September 30, 2010, of the aircraft that Chautauqua or Shuttle America could assign to us or require that we purchase if we terminate without cause our contract carrier agreements with those airlines (the “Put Right”) are approximately $180 million and $350 million, respectively. The actual amount that we may be required to pay in these circumstances may be materially different from these estimates. If the Chautauqua or Shuttle America Put Right is exercised, we must also pay the exercising carrier 10% interest (compounded monthly) on the equity the carrier provided when it purchased the put aircraft. These equity amounts for Chautauqua and Shuttle America total $25 million and $52 million, respectively.

We believe the Northwest merger better positions us to manage through economic cycles and volatile fuel prices, invest in our fleet, improve services for customers and achieve our strategic objectives. We also believe the merger will generate approximately $2 billion in annual revenue and cost synergies from more effective aircraft utilization, a more comprehensive and diversified route system, reduced overhead and improved operational efficiency. We have completed substantially all customer facing merger-related milestones and the majority of our merger integration.

Our consolidated operating cost per ASM for the September 2010 quarter excluding aircraft fuel and related taxes, profit sharing and special items (“CASM excluding certain items”), (a non-GAAP financial measure as defined in “Supplemental Information” below) was $7.84 cents. The performance of this metric was flat compared to the September 2009 quarter on 2% higher capacity. Merger cost synergies and productivity improvements offset higher revenue-related expenses and pay increases for frontline employees. We continue to focus on maintaining a competitive cost structure through disciplined spending and productivity initiatives.

At September 30, 2010, we had $3.9 billion in cash and cash equivalents and short-term investments, and $1.6 billion in undrawn revolving credit facilities. During the September 2010 quarter, cash provided by operating activities was $514 million. During that period, we repaid $924 million in long-term debt and capital lease obligations. We also invested $397 million in property and equipment, including the purchase of 10 leased B-767-300 aircraft, three leased MD-88 aircraft, two B-737-800 aircraft, two previously owned MD-90 aircraft and one leased B-767-300ER aircraft. In July 2010, we completed a $450 million offering of Pass Through Certificates, Series 2010-1A. For additional information, see Note 4 of the Notes to the Condensed Consolidated Financial Statements.

Regional carriers. Passenger revenue of regional carriers increased 12% from a 13% increase in PRASM on a 1% decline in capacity. The passenger mile yield increased 14%, reflecting an increase in demand for air travel and an increase in fares.
Cargo. Cargo revenue increased $50 million due to higher cargo yield and international volume, partially offset by capacity reductions.
Other, net. Other, net revenue increased $75 million primarily due to increased volume of checked bags.

Regional carriers. Passenger revenue of regional carriers increased 11% from a 15% increase in PRASM and a 1.6 point increase in load factor on a 3% decline in capacity. The passenger mile yield increased 12%, reflecting an increase in demand for air travel and an increase in fares.
Cargo. Cargo revenue increased $79 million due to higher cargo yield and international volume, partially offset by capacity reductions. The results for the nine months ended September 30, 2009 include the operations of dedicated freighter B-747-200F aircraft, which we retired during 2009.
Other, net. Other, net revenue increased $67 million primarily due to increased volume of checked bags, partially offset by a reduction in our aircraft maintenance and repair service revenue.

For Chart on Page 29:
Excludes all grounded aircraft, including 25 DC-9, 10 CRJ-100 and nine SAAB 340B+ aircraft that were grounded during the nine months ended September 30, 2010.

(2) Excludes 175 CRJ-200, 51 CRJ-900, 36 Embraer 175, 32 SAAB 340+ and 12 CRJ-700 aircraft, which are operated by our third party contract carriers on our behalf and included in the third party contract carriers table below.

(3) Excludes our orders for five A319-100 and two A320-200 aircraft because we have the right to cancel these orders.

(4) Aircraft options have scheduled delivery slots, while rolling options replace options and are assigned delivery slots as options expire or are exercised.

(5) Includes four aircraft that we have entered into definitive agreements to sell to third parties immediately following delivery of these aircraft to us by the manufacturer.

(6) During the September 2010 quarter, we entered into an agreement with The Boeing Company to reaffirm our previous orders for 18 B-787-8 aircraft and to defer delivery of those aircraft from 2008-2010 to 2020-2022.
During the nine months ended September 30, 2010, we had the following activity:
• Purchased 18 B-737-800 (16 of which were immediately sold to third parties) and two B-777-200LR aircraft.

• Purchased 11 previously owned MD-90 aircraft, 10 leased B-767-300 aircraft, four leased B-757-200 aircraft, three leased MD-88 aircraft and one leased B-767-300ER aircraft.

• Entered into an agreement to lease from a third party eight previously owned MD-90 aircraft. Three of these aircraft will be delivered in 2010 and the remainder in 2011.

Quarter Ended September 30, 2010
• 2010-1 EETC. In July 2010, we completed a $450 million offering of Pass Through Certificates, Series 2010-1A (“2010-1 EETC”), through a pass through trust. We used $160 million in net proceeds to partially finance two B-777-200LR aircraft purchased in March 2010. The remaining $290 million will be used to partially refinance 22 aircraft currently supporting the 2000-1 EETC and will be held in escrow until the final maturity of the 2000-1 EETC in November 2010. The debt securities in this offering bear interest at a fixed rate of 6.2% per year and have a final maturity in July 2018. At September 30, 2010, $276 million of the $290 million principal amount of the 2000-1 EETC is classified as long-term debt.

• Debt Reduction Initiatives. We used $682 million to complete the following debt reduction and delevering initiatives. We repurchased in cash tender offers $300 million principal amount of debt. This included:
• Substantially all of the $18 million then outstanding Northwest Pass Through Certificates, Series 2002-1C-2;

• $79 million of the $231 million then outstanding Northwest Pass Through Certificates, Series 2002-1G-1;

• $5 million of the $91 million then outstanding Northwest Pass Through Certificates, Series 2007-1B;

• $27 million of the $159 million then outstanding Delta Pass Through Certificates, Series 2007-1C; and

• $171 million of the $568 million then outstanding of Delta 11.75% Senior Second Lien Notes due 2015.
We also repurchased $153 million in existing debt and restructured $783 million in existing debt, resulting in different payment terms, including revised interest rates. Additionally, we redeemed $75 million of 9.5% Senior Secured Notes due 2014.

flyallnite

"The lake it's been said never gives up her dead when the gales of November come early"

johnso29

Check Deltanet.